Understanding The 4P’s of Marketing (now 5)
Posted by Latrice | Posted in Advertise, B2B, Marketing | Posted on 14-01-2010
Tags: 4Ps of marketing, business, Marketing, target marketing
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Understanding the 4P’s of marketing is critical to every business and will make or break a company. Wasted and Misdirected funds will drive a company out of business fast. I’ve added anther “P” – It’s the critical 5th.
Understand The 5P’s of Marketing (normally 4)
Product/Service – affordable, reliable, etc.
Price – competitive within market area
Place – strategically located within market (ground and/or online)
Promotion – method of advertising, highlighting business, specials, and/or niche
Persuasion – ability to sell the product/service (if you’re not excited about your service or product – I won’t be either.
Latrice Lovelace – www.lvisions.org
These were good tips. Thanks for bringing them back to my remembrance. We need these tips to help us in the beginning stages of starting and keeping a business on top.